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Congress Back to Work on Farm Bill Legislation

By Amanda Brodhagen, Farms.com

After a 16 day partial federal U.S. government shutdown, Congress is moving forward on business, which includes the farm bill. Talks are expected to start up again on Monday and continue for the rest of the week.

The 2008 Farm Bill extension expired Sept. 30, with no new bill currently in place. There are several different components to the bill, including crop insurance and perhaps the most contentious, food assistance - which Republicans and Democrats have yet to find a compromise.

It comes down to numbers. The Republicans advocate to cut food stamps by $40 billion, while Democrats propose a $4.5 billion cut. Let’s see if the House and Senate can reconcile its food and farm issues to draft a new Farm Bill law this week.
 


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Funds Ditch Ag Commodities, Chase Stocks Amid an End to Middle East War, & Trade Deal Buzz

Video: Funds Ditch Ag Commodities, Chase Stocks Amid an End to Middle East War, & Trade Deal Buzz


The 12-day war between Iran-Israel came to an end sending crude oil futures plunging as the big fund speculators removed the war risk premium.

The weather risk premium in the Ag complex is sending corn, wheat and soybean futures lower on month-end selling ahead of the market moving USDA quarterly grain stocks and acreage reports on June 30th.

Instead, funds were chasing and sending tech stocks higher with the S&P 500/NASDAQ indexes setting new all-time record highs!

June 1 USDA Hogs and pigs report was slightly bearish while the U.S. $ Index traded to new contract lows as the de-dollarization that began in 2014 continues.

Feed in the form of soybean meal futures for livestock producers got cheaper, trading to new contract lows.

The Stats Canada seeded acreage update was bullish canola and wheat.